Highbridge Fundraising For Bank Debt Fund

Jul 3 2008 | 12:16pm ET

Highbridge Capital Management is the latest hedge fund to try to take advantage of distressed bank debt with plans for a $1 billion fund.

The JPMorgan Chase unit began marketing Highbridge Leveraged Loan Partners last week, the New York Post reports. The fund will buy distressed paper originating over the past year-and-a-half that banks are seeking to get off their balance sheets amid the credit crisis.

The new fund will reportedly impose a three-year lockup period.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…